Stockwinners Market Radar for November 23, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service |
LTRY | Hot Stocks20:00 EST Lottery.com unit Sports.com to enter partnership with Data Sports Group - Sports.com "announces that it and the Data Sports Group, based in Berlin, have resolved to enter into an exclusive multi-year Partnership. The Partnership will allow Sports.com, Inc. to provide world class sports content to digital publishers. The Partnership will be the first solution marketed under the Sports.com brand. The Partnership will also enable Sports.com to leverage Lottery.com's capabilities."
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HZON | Hot Stocks19:11 EST Horizon Acquisition Corp. II transfers listing to NYSE American - Horizon Acquisition Corporation II announced that it expects to transfer its listing from The New York Stock Exchange to the NYSE American, where it has been approved for listing subject to confirmation of its satisfaction of the NYSE American's listing standards. Horizon's decision to transfer to the NYSE American was motivated by several factors, including more favorable thresholds for continued listing on the NYSE American following recent redemptions of Horizon's Class A ordinary shares in connection with the vote to extend the deadline by which Horizon must complete its initial business combination. Following the transfer, Horizon intends to continue to file the same types of periodic reports and other information it currently files with the U.S. SEC. Horizon anticipates the transfer to the NYSE American to occur on or about November 29.
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AAPL | Hot Stocks18:51 EST Apple exec sells $3.0M in common stock - In a regulatory filing, Apple disclosed that its Principal Accounting Officer Chris Kondo sold 20.2K shares of common stock on November 22nd in a total transaction size of $3.0M.
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BLK | Hot Stocks18:49 EST BlackRock CEO sells $30M in common stock - In a regulatory filing, BlackRock disclosed that its CEO Laurence Fink sold 41K shares of common stock on November 22nd in a total transaction size of $30M.
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FOXO | Hot Stocks18:36 EST FOXO Technologies files 10-Q form for Q3 - FOXO Technologies has filed its Form 10-Q for the third quarter ended September 30, 2022. The company initially delayed its filing of Form 10-Q for 3Q22, which was originally expected on November 14, to review the accounting treatment of certain warrants and Series A Preferred Stock. The company concluded the accounting treatment was appropriate and timely filed the Form 10-Q within the extension period. As a result of its delayed filing, the company has decided to forego its Q3 earnings and business update call and will instead look to host a Q4 earnings and business update call at a later date.
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ATVI | Hot Stocks18:36 EST Activision Blizzard falls 4% on report of potential FTC action to block buyout
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GOEV | Hot Stocks17:09 EST Canoo CEO buys $5.0M in common stock - In a regulatory filing, Canoo disclosed that its CEO Tony Aquila bought 4.5M shares of common stock on November 21 in a total transaction size of $5.0M
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RELL | Hot Stocks17:02 EST Richardson Electronics signs global distribution deal with Gallium Semiconductor - Richardson Electronics announced a global distribution agreement with Gallium Semiconductor. With their headquarters located in Singapore, Gallium Semiconductor is a supplier of RF Gallium Nitride - GaN - semiconductor solutions for 5G communication networks as well as aerospace, defense, industrial, scientific, and medical applications.
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CAR | Hot Stocks16:58 EST Avis Budget exec sells $2.3M in common stock - In a regulatory filing, Avis Budget disclosed that its President of International division Patrick Rankin sold 10K shares of common stock on November 22 in a total transaction size of $2.3M.
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VTRU | Hot Stocks16:56 EST Vitru announces price adjustment of business combination with UniCesumar - Vitru Limited "announces that it has entered into a definitive agreement with the sellers of CESUMAR - Centro de Ensino Superior de Maringa Ltda pursuant to which the Sellers have agreed to a purchase price reduction of R$73.1 million. This reduction is part of the purchase price adjustment mechanism agreed upon by Vitru and the Sellers in the Quota Purchase Agreement relating to the UniCesumar business combination, signed by the parties on August 23, 2021, and is related to certain variations in the balance sheet of UniCesumar until the closing of the business combination on May 20, 2022. In addition, Vitru and the Sellers also agreed that the portion of the purchase price to be paid in cash 12 months after closing will be paid 24 months after closing. The amount of the purchase price adjustment will be deducted from the portion of the purchase price to be paid by Vitru to the Sellers by May 20, 2024. As a result, the amount owed by Vitru to the Sellers in connection with the acquisition of UniCesumar has been reduced by R$73.1 million."
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JKHY | Hot Stocks16:37 EST Jack Henry CEO sells $3.0M in common stock - In a regulatory filing, Jack Henry disclosed that its CEO David Foss sold 16K shares of common stock on November 22nd in a total transaction size of $3.0M.
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LAX EUDA | Hot Stocks16:33 EST 8i Acquisition 2, EUDA Health complete combination - 8i Acquisition 2 (LAX) "announced the completion of its business combination with EUDA Health Ltd (EUDA), a Singapore-based digital health platform that aims to make healthcare more affordable, accessible, and improve the patient experience by delivering improved outcomes through personalized healthcare. The combined company will operate under the name "EUDA Health Holdings Limited" and will be led by Founder and Chief Executive Officer Dr. Kelvin Chen. Commencing at the open of trading on November 18, 2022, the combined company's ordinary shares and warrants will trade on Nasdaq Stock Market under the symbols "EUDA" and "EUDAW," respectively."
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BYSI | Hot Stocks16:33 EST BeyondSpring receives minimum bid price requirement notice from Nasdaq - BeyondSpring received a written notification from Nasdaq that the company is not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share because the closing bid price of the company's ordinary shares was below $1.00 per share for 30 consecutive business days. The notification letter does not result in the immediate delisting of the company's Ordinary Shares and has no current immediate effect on the listing or trading of the company's Ordinary Shares on Nasdaq. The company is provided with a compliance period of 180 calendar days from the date of the notification letter, or until May 17, 2023, to regain compliance with the minimum bid price requirement. During this period, the Company's Ordinary Shares will continue to trade on Nasdaq. In the event the company does not regain compliance by May 17, 2023, subject to the determination by the staff of Nasdaq, the company may be eligible for an additional 180-day compliance period. The notification letter does not affect the company's business operations, and the company is considering all available options to regain compliance with the listing rules within the prescribed grace period.
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ROP | Hot Stocks16:21 EST CFO of Roper Technologies Crisci sells $2.6M in company shares - The CFO of Roper Technologies Robert Crisci disclosed in a regulatory filing that he had sold 6,000 shares of company stock at $435.45 per share on November 21, for a total transaction amount of $2,612,726.
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RKLB | Hot Stocks16:11 EST Rocket Lab selected by NASA to launch TROPICS mission - Rocket Lab "announced it has been selected by NASA to launch the Time-Resolved Observations of Precipitation Structure and Storm Intensity with a Constellation of Smallsats, or TROPICS, mission, as part of the agency's Venture-class Acquisition of Dedicated and Rideshare launch services contract. Rocket Lab will launch the TROPICS mission, which is part of NASA's Earth System Science Pathfinder Program and consists of four CubeSats in two low-Earth orbital planes, into their operational orbit within a 60-day period. These two dedicated missions will launch on Electron rockets from Launch Complex 2 within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia. The launches are scheduled to take place no earlier than May 1, 2023."
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MMAT | Hot Stocks16:08 EST Meta Materials approves completion of spin-off of Next Bridge Hydrocarbons - Meta Materials announced that its board of directors has approved the distribution to the holders of META's Series A Non-Voting Preferred Stock, which is currently traded over-the-counter, or OTC, under the symbol "MMTLP," of 100% of the common stock of META's wholly owned subsidiary, Next Bridge Hydrocarbons, in accordance with the Distribution Agreement between META and Next Bridge. Upon completion of the distribution, Next Bridge will be an independent public reporting company, but the Next Bridge common stock is not and will not be publicly traded and will not be eligible for electronic transfer through the Depository Trust Company book-entry system or any other established clearing corporation.
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NISN | Hot Stocks16:03 EST Nisun International granted 180-day listing extension by Nasdaq - Nisun International received notification from NASDAQ confirming the company has been granted an additional 180 calendar day period for compliance under the minimum bid price requirement through May 22, 2023. To regain compliance with NASDAQ's minimum bid price requirement, the closing bid price of the company's common shares needs to be at least $1.00 per share for a minimum of 10 consecutive business days by May 22, 2023.
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GAN | Hot Stocks16:02 EST Gan Limited announces departure of CFO Karen Flores - GAN Limited "announced that it has accepted the resignation of Karen E. Flores from her position as Chief Financial Officer, as well as from the Company's board of directors, effective November 25, 2022. The Company has appointed Mr. Brian Chang, Senior Vice President, Corporate Controller, to assume the duties of Chief Financial Officer in the interim. The Company's search process for its next Chief Financial Officer is underway and hopes to provide an update on that process in the near future."
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BP... | Hot Stocks15:51 EST EC proposes new EU instrument to blunt excessive gas price spikes - The European Commission has "continued its response to the ongoing energy crisis by proposing a Market Correction Mechanism to protect EU businesses and households from episodes of excessively high gas prices in the EU. This complements measures to reduce gas demand and ensure security of supply through diversification of energy supplies. The new mechanism aims to reduce the volatility on European gas markets while safeguarding the security of gas supply. Following the Russian invasion of Ukraine and weaponisation of energy supplies, natural gas prices have seen unprecedented price peaks across the EU, reaching all-time highs in the second half of August this year. The extreme price spike over almost two weeks in August was highly damaging for the European economy, with contagion effects on electricity prices and an increase in overall inflation. The Commission is proposing to prevent the repetition of such episodes with a temporary and well-targeted instrument to automatically intervene on the gas markets in case of extreme gas price hikes." said the EC in part, in an earlier statement. Companies that may be impacted by this include: BP (BP), Exxon Mobil (XOM), Shell (SHEL), Total Energies (TTE), Chevron (CVX) and Gazprom (OGZPY). Reference Link
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LYV | Hot Stocks15:08 EST Congress to hold hearing on Ticketmaster issue after Taylor Swift mess - U.S. Senators Amy Klobuchar, D-MN, and Mike Lee, R-UT, Chairwoman and Ranking Member of the Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights, announced they will hold a hearing to examine the lack of competition in the ticketing industry. "This hearing comes after reports of significant service failures and delays on Ticketmaster's website that left fans unable to purchase concert tickets. "Last week, the competition problem in ticketing markets was made painfully obvious when Ticketmaster's website failed hundreds of thousands of fans hoping to purchase concert tickets. The high fees, site disruptions and cancellations that customers experienced shows how Ticketmaster's dominant market position means the company does not face any pressure to continually innovate and improve," said Klobuchar. "That's why we will hold a hearing on how consolidation in the live entertainment and ticketing industry harms customers and artists alike. When there is no competition to incentivize better services and fair prices, we all suffer the consequences," noted the Senators, in part, in an earlier statement. Last week, Klobuchar wrote a letter to Ticketmaster expressing concern about the lack of competition in the ticketing industry and questioning whether the company is taking necessary steps to provide the best service it can to consumers. Last week, Klobuchar wrote a letter to Ticketmaster expressing concern about the lack of competition in the ticketing industry and questioning whether the company is taking necessary steps to provide the best service it can to consumers. The Fly notes that Ticketmaster is a unit of Live Nation. Reference Link
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INTC... | Hot Stocks14:51 EST Third quarter CPU shipments down 18.6% compared to Q321, JPR says - In a recent statement, Jon Peddie Research said, in part: "Jon Peddie Research reports the growth of the global PC-based graphics processor unit or GPU, market reached 75.5M units in Q3'22 and PC CPU shipments decreased by -19% year over year. Overall, GPUs will have a compound annual growth rate of 2.8% during 2022-2026 and reach an installed base of 3,138M units at the end of the forecast period. Over the next five years, the penetration of discrete GPUs, dGPUs, in the PC will grow to reach a level of 26%. Year-to-year total GPU shipments, which include all platforms and all types of GPUs, decreased by -25.1%, desktop graphics decreased by -15.43%, and notebooks decreased by -30%-the biggest drop since the 2009 recession. AMD's(AMD) overall market share percentage from last quarter decreased by -8.5%, Intel's (INTC) market share increased by 10.3%, and Nvidia's (NVDA) market share decreased by -1.87%... Overall GPU unit shipments decreased by -10.3% from last quarter, AMD shipments decreased by -47.6%, Intel's shipments rose by 4.7%, and Nvidia's shipments decreased by -19.7%. The GPU's overall attach rate (which includes integrated and discrete GPUs, desktop, notebook, and workstations) to PCs for the quarter was 115%, down -6.0% from last quarter.The overall PC CPU market decreased by -5.7% quarter to quarter and decreased -by 18.6% from year to year. Desktop graphics add-in boards, AIBs that use discrete GPUs,decreased by -33.5% from the last quarter," This quarter saw 0.5% change in tablet shipments from last quarter. The third quarter typically has the strongest growth compared to the previous quarter. This quarter was down -10.3% from last quarter... Jon Peddie, president of JPR, noted, "The third quarter is usually the high point of the year for the GPU and PC suppliers, and even though the suppliers had guided down in Q2, the results came much below their expectations. "All the companies gave various and sometimes similar reasons for the downturn: the shutdown of crypto mining, headwinds from China's zero-tolerance rules and rolling shutdowns, sanctions by the US, user situation from the purchasing run-up during Covid, the Osborne effect on AMD while gamers wait for the new AIBs, inflation and the higher prices of AIBs, overhang inventory run-down, and a bad moon out tonight. "Generally, the feeling is Q4 shipments will be down, but ASPs will be up, supply will be fine, and everyone will have a happy holiday," said Dr. Jon Peddie. Other companies that may be impacted by this include Dell (DELL) and HP (HPQ) . Reference Link
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BCLI | Hot Stocks14:49 EST Veterans with ALS ask FDA to hold advisory committee to discuss NurOwn - A group called "I Am ALS" and "Veterans with ALS" released an open letter to Dr. Robert Califf and Dr. Peter Marks of the FDA, requesting that the FDA hold a public Advisory Committee meeting to discuss Brainstorm Cell Therapeutics' mesenchymal stem cell therapy, NurOwn. Brainstorm Cell Therapeutics previously announced that the U.S. Food and Drug Administration issued a Refusal to File letter for its investigational biologic treatment, a mesenchymal stem cell therapy called NurOwn. Brainstorm plans to request a Type A meeting with the FDA to discuss a path forward and the balance of evidence that it believes supports approval.
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PPRUY | Hot Stocks14:42 EST Kering says Alessandro Michele stepping down as Gucci's creative director - Gucci announces that Alessandro Michele is stepping down as Creative Director of Gucci. "Alessandro Michele has been at the creative helm of the House since January 21, 2015, and has played a fundamental part in making the brand what it is today through his groundbreaking creativity, while staying true to the renowned codes of the House," the company stated. Francois-Henri Pinault, Chairman and CEO of Kering, said: "The road that Gucci and Alessandro walked together over the past years is unique and will remain as an outstanding moment in the history of the House. I am grateful to Alessandro for bringing so much of himself in this adventure. His passion, his imagination, his ingenuity and his culture put Gucci center stage, where its place is. I wish him a great next chapter in his creative journey."
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CNI... | Hot Stocks14:07 EST North American rail traffic up 1.5% for the week ending November 19 - The Association of American Railroads or AAR, reported U.S. rail traffic for the week ending November 19. For this week, total U.S. weekly rail traffic was 491,794 carloads and intermodal units, down 3.2% compared with the same week last year. Total carloads for the week ending November 19 were 235,887 carloads, down 0.6% compared with the same week in 2021, while U.S. weekly intermodal volume was 255,907 containers and trailers, down 5.6% compared to 2021. Four of the 10 carload commodity groups posted an increase compared with the same week in 2021. They included grain, up 2,039 carloads, to 26,624; coal, up 1,766 carloads, to 66,485; and nonmetallic minerals, up 463 carloads, to 31,558. Commodity groups that posted decreases compared with the same week in 2021 included chemicals, down 3,081 carloads, to 31,074; motor vehicles and parts, down 1,030 carloads, to 13,631; and forest products, down 864 carloads, to 9,033. North American rail volume for the week ending November 19 on 12 reporting U.S., Canadian and Mexican railroads totaled 341,621 carloads, up 3.2% compared with the same week last year, and 338,616 intermodal units, down 0.2% compared with last year. Total combined weekly rail traffic in North America was 680,237 carloads and intermodal units, up 1.5%. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Kansas City Southern (KSU), Norfolk Southern (NSC) , Union Pacific (UNP), FreightCar America (RAIL), Trinity Industries (TRN), Greenbrier (GBX) and Wabtec (WAB). Reference Link
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COUP | Hot Stocks13:41 EST Coupa Software up 34% after takeover report triggered halt - Shares of Coupa Software are up $15.75, or 34%, to $61.47 following the resumption of trading after Bloomberg reported that private equity firm Vista Equity Partners is exploring a deal to buy the company.
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COUP | Hot Stocks13:39 EST Coupa Software trading resumes
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COUP | Hot Stocks13:31 EST Coupa halted for volatility after jumping 10% on Bloomberg report
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COUP | Hot Stocks13:30 EST Coupa jumps 10% to $50.49 after Bloomberg says Vista weighing buyout
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COUP | Hot Stocks13:28 EST Coupa Software trading halted, volatility trading pause
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BKR | Hot Stocks13:24 EST Baker Hughes reports U.S. rig count up 2 to 784 rigs - Baker Hughes reports that the U.S. Rig Count is up 2 from last week to 784 with oil rigs up 4 to 627, gas rigs down 2 to 155 and miscellaneous rigs unchanged at 2. The U.S. Rig Count is up 215 rigs from last year's count of 569 with oil rigs up 160, gas rigs up 53 and miscellaneous up 2. The U.S. Offshore Rig Count is unchanged at 17, up 2 year-over-year. The Canada Rig Count is down 7 from last week to 194, with oil rigs down 6 to 129, gas rigs down 1 to 65. The Canada Rig Count is up 23 rigs from last year's count of 171, with oil rigs up 23, gas rigs unchanged.
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SI | Hot Stocks13:13 EST block.one reports 7.46% passive stake in Silvergate Capital - block.one disclosed a 7.46% stake in Silvergate Capital, which represents over 2.36M shares. The filing with the SEC is passive and does not allow for activism.
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NIDB | Hot Stocks13:02 EST Northeast Indiana Bancorp declares special cash dividend of $1.25 per share - Northeast Indiana Bancorp announced that its Board of Directors has declared a special cash dividend of $1.25 per share on the Company's common stock. The record date will be December 8, 2022 and the payment date will be December 22, 2022.
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CELH | Hot Stocks12:04 EST Celsius Holdings, Professional Fighters League enters multi-year deal - The Professional Fighters League announced a multi-year deal with CELSIUS Essential Energy to become the Official Energy Drink Partner of the PFL. To kick off the expansive agreement, CELSIUS will be the presenting partner of the 2022 PFL World Championship taking place this Friday, November 25 at Hulu Theater at Madison Square Garden. Under the deal, CELSIUS will have naming rights to the VIP Cageside Club and the winner of each matchup will enjoy the energy drink inside the PFL SmartCage at every event, with the latter beginning in 2023. Additionally, CELSIUS will collaborate with select PFL world-class fighters who are also CELSIUS consumers to serve as brand ambassadors. CELSIUS and the PFL will also create custom social content to engage the league's young, dynamic audience and there will be commercial inventory and integrations on PFL's broadcast partner, ESPN.
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NINE | Hot Stocks12:00 EST Nine Energy Service falls -6.8% - Nine Energy Service is down -6.8%, or -62c to $8.45.
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GRND | Hot Stocks12:00 EST Grindr falls -10.2% - Grindr is down -10.2%, or -$1.25 to $11.00.
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PAGS | Hot Stocks12:00 EST PagSeguro Digital falls -18.9% - PagSeguro Digital is down -18.9%, or -$2.27 to $9.73.
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CVNA | Hot Stocks12:00 EST Carvana rises 16.8% - Carvana is up 16.8%, or $1.14 to $7.94.
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MANU | Hot Stocks12:00 EST Manchester United rises 17.7% - Manchester United is up 17.7%, or $2.64 to $17.58.
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PERF | Hot Stocks12:00 EST Perfect Corp. rises 36.8% - Perfect Corp. is up 36.8%, or $1.94 to $7.21.
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AMZN... | Hot Stocks12:00 EST Film exhibitor stocks higher after report of Amazon spending plans - Several stocks involved in showing motion pictures are rising after Bloomberg's Lucas Shaw reported, citing sources, that Amazon (AMZN) plans to spend more than $1B a year on movies that it will release in theaters and aims to make between 12 and 15 movies annually that will get a theatrical release. Publicly traded companies in the film exhibition space include AMC Entertainment (AMC), Cinemark (CNK), Cineworld Group (CNNWF), Imax (IMAX), Marcus (MCS) and National CineMedia (NCMI).
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ENZ | Hot Stocks11:41 EST James Wolf says may nominate himself for Enzo Biochem board - James Wolf reports a 8.56% stake in Enzo Biochem, which represents over 4.1M shares. The filing with the SEC allows for activism. Wolf said he may nominate himself for election as a director of the company at the next annual meeting of shareholders "if he is not nominated" by the board of directors.
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DRUG VTGN | Hot Stocks11:38 EST Bright Minds Biosciences appoints Mark Smith as CMO - Bright Minds Biosciences (DRUG) announced that Mark Smith M.D., Ph.D. will join the Company as chief medical officer, effective December 1, 2022. The Company also announces that Dr. Revati Shreeniwas' engagement with Bright Minds as CMO has been terminated. Prior to joining Bright Minds, Dr. Smith was CMO at VistaGen Therapeutics (VTGN).
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TOWN | Hot Stocks11:32 EST TowneBank announces retirement of president and COO Brad Schwartz - TowneBank announced that Brad E. Schwartz, Towne's president and COO, will retire from the company on December 31, 2022. Mr. Schwartz also plans to step down as a director of the company when his current term expires at the 2023 annual meeting of shareholders. Following his retirement at year end, Schwartz will serve as a senior advisor through 2025 to ensure a smooth transition of his roles and responsibilities. Schwartz joined Towne in 2016 as COO with the merger of Monarch Bank, where he served as CEO since 2009. The Board of Directors has approved the appointment of William I. Foster III to succeed Schwartz as president, which will be in addition to his new position as CEO when he succeeds J. Morgan Davis also at year end.
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C | Hot Stocks11:20 EST Citi 'completely committed' to addressing shortcoming in 2021 resolution plan - Citi has issued the following statement regarding the joint feedback letter from the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation with respect to Citi's July 2021 Targeted Resolution Plan: "We are pleased that we have addressed the shortcoming identified in the 2019 Resolution Plan and we are completely committed to addressing the shortcoming identified in our July 2021 plan. As part of the Transformation Citi has embarked upon, we are making significant investments in our data integrity and data management, as the letter notes. We will leverage that work to remediate the shortcoming identified today, as we acknowledge there is much more work to do. The result of these efforts will be more streamlined systems that improve the quality of our data as well as the speed with which it can be accessed. We have a rigorous, firm-wide resolution planning process across Citi's businesses, functions and regions. We continue to have confidence that we can be resolved without the use of taxpayer funds or an adverse systemic impact." Reference Link
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C... | Hot Stocks11:13 EST Fed, FDIC identified shortcoming in Citigroup resolution plan - The Federal Reserve Board and the Federal Deposit Insurance Corporation announced the results of their joint review of the resolution plans - also known as living wills - that the eight largest and most complex domestic banking organizations submitted in 2021. Resolution plans must describe a financial company's strategy for rapid and orderly resolution in bankruptcy in the event of its material financial distress or failure. The agencies identified a shortcoming in Citigroup's (C) resolution plan and did not identify any other shortcomings or deficiencies in the plans from the other banking organizations, the agencies announced. "A shortcoming is a weakness that raises questions about the feasibility of the plan and could result in additional requirements if not corrected, but is not as severe as a deficiency. In Citigroup's resolution plan, the agencies found a shortcoming related to data quality and data management concerns previously identified by the Board in its October 2020 enforcement action. The agencies previously identified shortcomings in the 2019 plans of Bank of America Corporation, The Bank of New York Mellon Corporation, Citigroup, Morgan Stanley, State Street Corporation, and Wells Fargo & Company, related to the ability of each firm to reliably produce, in stressed conditions, data needed to execute its resolution strategy. The agencies determined that the 2021 resolution plans of these firms successfully addressed those shortcomings. The agencies have provided feedback letters to each of the firms. The letters note continued development of firms' resolution strategies and capabilities and the expectation that work will continue. The feedback letters also note the expectation that the next plan review will include expanded testing of the firm's resolution capabilities. For Citigroup the letter describes the specific weaknesses resulting in the shortcoming and the actions required by the agencies. A plan to address the shortcoming is due to the agencies by January 31, 2023," the FDIC stated in a press release. Reference Link
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TLSA | Hot Stocks11:05 EST Tiziana Life Sciences announces publication on foralumab - Tiziana Life Sciences announces publication of a scientific article in the peer-reviewed journal Frontiers in Immunology entitled "Nasal administration of anti-CD3 monoclonal antibody modulates effector CD8+ T cell function and induces a regulatory response in T cells in human subjects". The study was completed by researchers at the Brigham and Womens Hospital and Harvard Medical School. The goal of the study was to assess safety and the immune effects of an entirely human, previously uncharacterized nasal anti-CD3 mAb in humans and its in vitro stimulatory properties. The findings support Tiziana's intranasal foralumab platform as a new modality for the treatment of autoimmune and CNS diseases. The study evaluated 27 healthy volunteers intranasal foralumab at a dose of 10ug, 50ug, or 250ug daily for 5 days or placebo. Safety was assessed and immune parameters were measured on day one, and days 7, 14, and 30 by Fluorescence-Activated single Cell Sorting and by Single-cell RNA sequencings. No adverse events or safety signals were found when foralumab was dosed at the amounts of 10ug, 50ug and 250ug given for 5 consecutive days. Immunomodulatory effects were predominantly observed at the 50ug dose. At the 50ug dose a reduction of CD8+ effector memory cells, an increase in naive CD8+ and CD4+ T cells, and reduced CD8+ T cell granzyme B and perforin expression were observed. A dose effect with 50ug being more immunomodulatory than 250ug is consistent with previously conducted animal studies of mucosal tolerance in which higher doses do not induce immune regulation. This is likely due to the partial signaling that occurs at intermediate doses which favors the induction of regulatory cells. No anti-drug antibodies in humans were detected. When intranasal foralumab was dosed in humans at the above levels, immunological activity and a favorable safety profile were observed. The findings present a new modality for the treatment of autoimmune and CNS diseases. Tiziana's intranasal monoclonal antibody technology is applicable to marketed mAbs which are currently available only through IV & SC administration, addressing enourmous market potential. A notable finding from this research is that the biologic effect of intranasal anti-CD3 is different from IV anti-CD3. IV anti-CD3 is associated with modulation of CD3 from the cell surface, a decrease in CD3 cells and with side effects that include cytokine release syndrome and in some instances activation of EBV. EBV reactivation was observed with IV foralumab at the 500ug and 1000ug doses. In contrast, intranasal foralumab did not show EBV activation at any of the doses or modulation of CD3 from the cell surface and the researchers did not find foralumab in the bloodstream. From these results it can be concluded thar nasal foralumab acts locally while IV administered anti-CD3 acts systemically. Confirming these findings, in animal studies, it was observed that nasal anti-CD3 localized to the cervical lymph nodes and as with human studies, nasal anti-CD3 was not observed in the bloodstream of animals.
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DE | Hot Stocks10:27 EST Deere says capital allocation priorities 'remain unchanged'
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DE | Hot Stocks10:16 EST Deere CEO says 'best years are still ahead' - Says Financial Services is expected to continue to deliver steady growth. Says 2022 was an 'unprecedented' year. Says executed to plans, saw substantial lift in production in Q4. Says saw highest revenue and margin quarter for the year. Says order books across business are full into Q3. Says velocity of orders remain strong. Says confident in ability to unlock 'immense value' for customers.
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RGR... | Hot Stocks10:10 EST FBI reports 2.51M NICS firearm background checks in October - The FBI reported that there were 2,511,034 firearm background checks initiated through the NICS system in October 2022. This compares to 2,593,168 checks in October of 2021 and 2,470,462 in September 2022. Companies in the gun space include Sturm, Ruger (RGR), American Outdoor Brands (AOBC), and Vista Outdoor (VSTO).Reference Link
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DE | Hot Stocks10:08 EST Deere says fundamentals 'remain positive' - Says finished the year with a 'strong' Q4. Says fundamentals remain positive. Says factories were able to maintain higher rates of production. Says dairy and livestock demand remains steady. Says supply constraints in 2022 are extending equipment replacement into 2023. Comments taken from Q4 conference call.
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JWN | Hot Stocks10:00 EST Nordstrom falls -6.8% - Nordstrom is down -6.8%, or -$1.55 to $21.10.
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MAXR | Hot Stocks10:00 EST Maxar Technologies falls -10.5% - Maxar Technologies is down -10.5%, or -$2.73 to $23.30.
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PAGS | Hot Stocks10:00 EST PagSeguro Digital falls -19.8% - PagSeguro Digital is down -19.8%, or -$2.38 to $9.63.
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YMM | Hot Stocks10:00 EST Full Truck Alliance rises 13.7% - Full Truck Alliance is up 13.7%, or 84c to $6.98.
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MANU | Hot Stocks10:00 EST Manchester United rises 15.0% - Manchester United is up 15.0%, or $2.24 to $17.18.
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PERF | Hot Stocks10:00 EST Perfect Corp. rises 44.6% - Perfect Corp. is up 44.6%, or $2.35 to $7.62.
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CULP | Hot Stocks09:47 EST Culp, Inc. falls -7.7% - Culp, Inc. is down -7.7%, or -42c to $5.02.
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JWN | Hot Stocks09:47 EST Nordstrom falls -7.8% - Nordstrom is down -7.8%, or -$1.77 to $20.88.
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PAGS | Hot Stocks09:47 EST PagSeguro Digital falls -16.8% - PagSeguro Digital is down -16.8%, or -$2.02 to $9.99.
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MANU | Hot Stocks09:47 EST Manchester United rises 9.3% - Manchester United is up 9.3%, or $1.39 to $16.33.
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YMM | Hot Stocks09:47 EST Full Truck Alliance rises 11.9% - Full Truck Alliance is up 11.9%, or 73c to $6.87.
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PERF | Hot Stocks09:47 EST Perfect Corp. rises 20.5% - Perfect Corp. is up 20.5%, or $1.08 to $6.35.
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DE | Hot Stocks09:45 EST Deere sees FY23 Production and Precision Ag net sales up 15%-20% - Sees segment operating margin 22%-23%. Sees FY23 Small Ag and Turf net sales flat to up 5%, with operating margin 14.5%-15.5%. Sees Construction and Forestry net sales up about 10%, with operating margin 15.5%-16.5%. Comments taken from Q4 earnings conference call presentation slides.
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PERF | Hot Stocks09:38 EST Perfumania Holdings, Inc. trading resumes
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PERF | Hot Stocks09:33 EST Perfumania Holdings, Inc. trading halted, volatility trading pause
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MGM | Hot Stocks09:31 EST BetMGM launches mobile sports betting in Maryland - BetMGM launched its mobile app in Maryland giving customers access to a variety of online betting options and benefits tied to MGM Resorts' premier destinations nationwide, including MGM National Harbor.
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QFIN | Hot Stocks09:30 EST 360 DigiTech announces pricing of global offering - 360 DigiTech announced the pricing of its global offering of 5,540,000 Class A ordinary shares of the Company. The Global Offering comprises a Hong Kong public offering and an international offering. The final offer price for both the International Offering and the Hong Kong Public Offering has been set as HK$50.03 per Offer Share. Based on the ratio of two Class A ordinary shares per Nasdaq-listed American depositary shares, the Offer Price translates to approximately US$12.75 per ADS based on an exchange rate of HK$7.8499 to US$1.00. Subject to approval from The Stock Exchange of Hong Kong, the Class A ordinary shares of the Company are expected to begin trading on the Main Board of the Hong Kong Stock Exchange on Tuesday, November 29, 2022 under the stock code "3660." The Global Offering is expected to close on the same day, subject to customary closing conditions. In addition, the Company has granted an over-allotment option to the international underwriters, exercisable by the joint global coordinators, from the date on which the Company's Class A ordinary shares are listed on the Hong Kong Stock Exchange until December 23, 2022, being the 30th day after the last day for lodging applications under the Hong Kong Public Offering, to purchase up to an aggregate of 830,000 additional Class A ordinary shares of the Company at the Offer Price. The gross proceeds to the Company from the Global Offering, before deducting underwriting fees and the offering expenses, are expected to be approximately HK$277.2M. The Company plans to use the net proceeds from the Global Offering for its research and development to enhance its technology and credit assessment capabilities, and develop more diversified technology solutions in response to the evolving needs of financial institutions and fine-tune its services and solutions; for further penetrating the Credit-Tech Industry and expanding user base; and for general corporate purposes and working capital needs. Citigroup Global Markets Asia and China International Capital Corporation Hong Kong Securities are the joint sponsors for the proposed Global Offering. Citigroup Global Markets Asia and China International Capital Corporation Hong Kong Securities act as the joint global coordinators for the proposed Global Offering. Citigroup Global Markets Asia, Citigroup Global Markets and China International Capital Corporation Hong Kong Securities, CCB International Capital, Futu Securities International, and Tiger Brokers Global are the joint bookrunners for the proposed Global Offering. Citigroup Global Markets Asia, Citigroup Global Markets and China International Capital Corporation Hong Kong Securities, CCB International Capital, Futu Securities International, Tiger Brokers Global, and Livermore Holdings are the joint lead managers for the proposed Global Offering.
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CZR | Hot Stocks09:23 EST Caesars Sportsbook now accepting sports bets in Maryland - Caesars Entertainment announced its sports wagering mobile app, Caesars Sportsbook, is accepting sports bets in the state of Maryland. Eligible sports fans can now enjoy an elevated mobile sports wagering experience on iOS, Android, or desktop while taking advantage of industry-leading rewards and special sign-up offers.
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RKFL ACIW | Hot Stocks09:21 EST RocketFuel Blockchain announces launch of loyalty token $Rpay - RocketFuel Blockchain (RKFL) announced the launch of its loyalty token, which was developed in collaboration with ACI Worldwide (ACIW). The native token launch will be sold at a private sale at a discounted price of $0.015 per token and $0.025 in pre-sale. RocketFuel's $Rpay token is the backbone of the RocketFuel loyalty program announced in October 2022, and will be used as means of payment for offers in the loyalty program and elsewhere. The loyalty program is developed in collaboration with several payment processing partners that collectively process billions of payment transactions for millions of shoppers each month ensuring maximum distribution and utility for the $Rpay token across millions of members of the loyalty program. Merchants and shoppers will both benefit from the world's first crypto payments loyalty program. Shoppers will earn $Rpay tokens on all purchases regardless of payment method and can redeem tokens with participating merchants on RocketFuel's marketplace. Tokens can easily be transferred, shared, or sold. Merchants are able to target and promote their goods and services to all members of the RocketFuel loyalty program using modern blockchain and NFT technologies. RocketFuel envisions the use of $Rpay for future financial services such as locking the tokens as part of a credit or loan issuance program - implementing their use in full compliance with the financial and regulatory requirements of the jurisdictions in which RocketFuel operates. The $Rpay token will be launched as a security token first and over time as its usage increases, the company will obtain the necessary approvals for the token to be classified as a utility token. Only businesses and accredited private investors outside the United States can purchase the token.
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WMT | Hot Stocks09:20 EST Walmart 'shocked' at 'tragic' event at Chesapeake, Virginia store - Walmart said via Twitter on Wednesday: "We are shocked at this tragic event at our Chesapeake, Virginia store. We're praying for those impacted, the community and our associates. We're working closely with law enforcement, and we are focused on supporting our associates." Reference Link
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BNXAF | Hot Stocks09:18 EST Banxa Holdings CFO Konstantin Lichtenwald steps down - The Company announced that Konstantin Lichtenwald has stepped down from his role as public company CFO. He will remain engaged as an advisor to the Audit Committee and Finance department with the objective of completing the audit as soon as possible. The Company is continuing its search for a Group CFO and currently interviewing for this position.
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BNXAF | Hot Stocks09:17 EST Banxa Holdings provides trade cessation status, business update - BANXA provides a further update on the trade cessation status and general business matters. The Company continues to make progress with its auditor, RSM Canada, on completing its audited financial statements for the fiscal year ended June 30, 2022, and will provide a further update to the market in the coming weeks. As a result of the FY22 audit delay, the September quarterly financial report will also be delayed. The Company is unable to release the financial statements and MD&A until the FY22 audit is completed as there is a requirement to have confirmed opening balances. The Company now has 11 Money Transmitter Licences in the US market with the most recent MTL approved last week and further MTLs expected to be approved in the coming months.
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VLTA | Hot Stocks09:08 EST Volta awarded ARPA-E funding to commercialize next gen fast charging technology - Volta announced that a project application it collaborated on with Imagen Energy, a developer of compact high-power EV chargers, was awarded a grant from the U.S. Department of Energy Advanced Research Projects Agency-Energy or ARPA-E . The project seeks to develop and commercialize the next generation of domestically manufactured DC Fast Charging DCFC technology in support of the federal government's clean energy and climate priorities. "Imagen relies on commercialization p"Imagen relies on commercialization partners like Volta to accelerate the deployment of our high power density, silicon carbide-based power conversion platforms," said Ezana Mekonnen, Chief Technology Officer at Imagen. "The combination of Volta's advanced PredictEV planning tool and the company's existing charging network creates the ideal environment for quickly developing reliable, affordable, and efficient charging solutions that will support the rapid transition to electric mobility." "While this is a modest initial government grant that does not replace the need for the capital we are currently raising, it is proof of Volta's ability to align our business with the federal government's priorities," said Vince Cubbage, Interim Chief Executive Officer at Volta. "Volta's collaboration with Imagen on this winning ARPA-E application demonstrates our commitment to supporting solutions that are compliant with the Bipartisan Infrastructure Law, ensuring implementation can be done in a capital-efficient manner." artners like Volta to accelerate the deployment of our high power density, silicon carbide-based power conversion platforms," said Ezana Mekonnen, Chief Technology Officer at Imagen. "The combination of Volta's advanced PredictEV planning tool and the company's existing charging network creates the ideal environment for quickly developing reliable, affordable, and efficient charging solutions that will support the rapid transition to electric mobility." "While this is a modest initial government grant that does not replace the need for the capital we are currently raising, it is proof of Volta's ability to align our business with the federal government's priorities," said Vince Cubbage, Interim Chief Executive Officer at Volta. "Volta's collaboration with Imagen on this winning ARPA-E application demonstrates our commitment to supporting solutions that are compliant with the Bipartisan Infrastructure Law, ensuring implementation can be done in a capital-efficient manner."
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MDGS | Hot Stocks09:08 EST Medigus says Viewbix reports 9M revenue of $66M vs. $22.8M last year - Viewbix, 76% owned by Medigus' subsidiary Gix Internet reported its financial results for the third quarter and the first nine months ended September 30, 2022. Operating income Viewbix reached an operating income of $1,407,000 in the nine months ended September 30, 2022 compared to an operating loss of $44,000 in the corresponding period in 2021. In the third quarter of 2022 the operating income amounted to $427,000 compared to an operating loss of $111,000 in the third quarter of 2021.
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FAT | Hot Stocks09:04 EST Great American Cookies partners with The Lumistella Company - Great American Cookies announces a new partnership with The Lumistella Company, home of The Elf on the Shelf brand. Through Dec. 24, guests can bring holiday cheer to their families with a limited-edition treat, The Elf on the Shelf Cookie Cake. The all-new, festive Cookie Cake features Santa's helpers, Scout Elves, with fans' choice of batter, including the classic Original Chocolate Chip Cookie, and customizable border icing color options. Known as the creator of the Original Cookie Cake, Great American Cookies is the first dessert franchise to bake up a special collaboration with The Lumistella Company to deliver a sweet treat for families to kick-off Scout Elf Return Week, on Nov. 24, when Scout Elves typically begin arriving from the North Pole to join their families for the season. The Elf on the Shelf Cookie Cake will be available through Christmas Eve.
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MTBC | Hot Stocks09:03 EST CareCloud experiences uptick in requests for automated processes - CareCloud announced they have seen a significant increase in healthcare providers and medical facilities seeking healthcare technology with automation capabilities. The pandemic exacerbated a shortage of healthcare workers in the U.S., leaving medical practices with a thirst to automate processes and relieve overwhelmed healthcare providers. The Association of American Medical Colleges estimated a shortfall of between 17,800 to 48,000 primary care physicians and 21,000 to 77,100 specialists by 2034. "Since 2020, and more significantly in recent months, we've answered many questions by medical practices looking to automate their processes," said Carinda Cox, CareCloud's vice president of sales and sales operations. "I would say around 90% of the medical practices we talk to are experiencing a staff shortage, and they are seeking automation solutions that can remove tasks from their plates and allow them to focus on patient care."
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BMRN | Hot Stocks08:59 EST BioMarin up 6% to $96.39 after FDA won't hold meeting on BLA for ROCTAVIAN
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CMNDF | Hot Stocks08:51 EST Clearmind initiates CMND-100 manufacturing program - Clearmind Medicine announced the initiation of clinical batches of production of its novel psychedelic-derived drug candidate, the MEAI- based molecule- CMND-100. The produced batches will be used in the Company's upcoming first in human clinical trial evaluating the proprietary drug candidate compound CMND-100 for the treatment of Alcohol Use Disorder. Following MEAI's synthesis development process, the compound is being produced under GMP conditions to comply with FDA requirements. The clinical batches production is made possible due to prior successful production of MEAI drug substance that was used in the Company's pre- clinical studies designed to evaluate the safety of its innovative compound.The Company previously announce that it completed a highly constructive Pre-Investigational New Drug Application meeting with the U.S. Food and Drug Administration to discuss the development of CMND-100.
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NLSP | Hot Stocks08:34 EST NLS Pharmaceutics launches paid for Named Patient Program with Mazindol ER - NLS Pharmaceutics announces that it has launched a paid for Named Patient Program for patients suffering from idiopathic hypersomnia. NLS has partnered with Caligor Coghlan Pharma Services, a globally active pharmaceutical company specializing in named patient, expanded access, early access and compassionate use programs. The NPP will provide access to Mazindol ER for the treatment of IH where this medication would not otherwise be available for this indication in certain countries. The NPP for IH was launched in the United Kingdom this week and is expected to expand into other countries over the coming weeks and months. On November 2, 2022, the U.S. Food and Drug Administration granted Orphan Drug Designation for Mazindol ER for the treatment of IH. Previously, Mazindol ER was granted ODD for IH in Europe on July 21, 2022.
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HTCR | Hot Stocks08:32 EST HeartCore Enterprises signs fifth Go IPO agreement with SBC Medical - HeartCore Enterprises signed an agreement with SBC Medical Group for its fifth Go IPO consulting service within an eight-month period. As part of the Consulting Agreement, HeartCore will assist SBC Medical in its efforts to go public and list on the Nasdaq Stock Market. Through Go IPO, the Company services clients by assisting throughout the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering or de-SPAC, providing general support services, assisting in the preparation of the S-1 or F-1 filing, and more. As compensation for its services, HeartCore expects to generate from SBC Medical an aggregate of $900,000 in initial fees. In addition, HeartCore has received a warrant to acquire 2.7% of SBC Medical's common stock, on a fully diluted basis.
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PRCH | Hot Stocks08:32 EST Porch Group CEO reports purchase of 256,949 shares of common stock - In a regulatory filing, Porch Group CEO Matthew Ehrlichman disclosed he may be deemed to beneficially own 18,539,878 shares of common stock, representing approximately 18% of the shares of common stock outstanding. The filing states that on November 18, Ehrlichman purchased 58,132 shares of common stock for an aggregate purchase price of approximately $96,650.26, excluding commissions, using his personal funds. On November 21, Ehrlichman purchased 46,508 shares of common stock for an aggregate purchase price of approximately $75,812.69, excluding commissions, using his personal funds. On November 22, Ehrlichman purchased 152,309 shares of common stock for an aggregate purchase price of approximately $237,175.57, excluding commissions, using his personal funds.
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BMRN | Hot Stocks08:31 EST BioMarin: FDA does not plan to hold meeting to discuss BLA for ROCTAVIAN - BioMarin Pharmaceutical announced advancements in the U.S. FDA review of the Biologics License Application of ROCTAVIAN for adults with severe hemophilia A. The company was recently notified by the FDA that after further consideration, at this time, the Agency no longer plans to hold an advisory committee meeting to discuss the BLA for ROCTAVIAN that is currently under review. Previously, the FDA communicated to the company that it did intend to hold an advisory committee meeting but did not specify a date. The company also remains on track to host the scheduled FDA Pre-Licensure Inspection of BioMarin's gene therapy manufacturing facility located in Novato, CA.
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SFET | Hot Stocks08:31 EST Safe-T regains compliance with Nasdaq minimum closing bid price rule - Safe-T Group reported the receipt of a formal notification from The Nasdaq Stock Market that the Company has regained compliance with Listing Rule 5450(a)(1), which requires the Company's American Depositary Shares to maintain a minimum bid price of $1.00 per share. The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ADSs was at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5450(a)(1) and Nasdaq considers the prior bid price deficiency matter now closed.
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JFBR | Hot Stocks08:28 EST Jeffs' Brands signs non-binding term sheet to acquire pest control company - Jeffs' Brand announced that it has entered into a non-binding term sheet with a company incorporated in England engaged in the sale of pest control products through Amazon.uk. As contemplated by the Term Sheet, Jeffs' Brands will acquire the UK Company and its five private label brands, currently being sold on Amazon.uk, for approximately $2.5M in cash. The UK Company is a market leader in pest control products sold on Amazon.uk in several market niches - one brand is showing its dominance over the "moth trap and rat trap" market niche on Amazon.uk with a market share of 35.7% and 26.5%, respectively, as of July 2022. The UK Company generated approximately $6.2 million in revenues in 2021 with gross profit margins of 21%. The acquisition is subject to, among other matters, a due diligence review by Jeffs' Brands and the negotiation and execution of a binding definitive agreement. There can be no assurances that any component of the acquisition will proceed, nor can there be any assurance as to the final definitive terms thereof.
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MKTW | Hot Stocks08:26 EST MarketWise CEO Mark Arnold resigns, Stephen Sjuggerud named interim CEO - MarketWise announced that Mark Arnold has resigned as Chairman of the Board of Directors and CEO of MarketWise, and as a director of MarketWise. The Board has accepted his resignation and named Dr. Stephen Sjuggerud, a current director and two-decade veteran at MarketWise, interim CEO. These changes are effective immediately. Stephen Sjuggerud joined MarketWise in 2001 and his True Wealth franchise covers five publications, accounting for over 100,000 paid subscriptions and nearly 800,000 free subscriptions. The Board of Directors has retained Heidrick and Struggles to lead the search for a new CEO.
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GROM | Hot Stocks08:11 EST Grom Social's Curiosity Ink Media debuts ASK SANTA virtual experience - Grom Social Enterprises' Curiosity Ink Medis debuted ASK SANTA, an AI-driven virtual experience that allows kids to engage with Santa Claus, anytime, 24/7, on mobile or desktop devices. Powered by AI-powered conversational video technology from StoryFile, ASK SANTA, offers parents a safe, convenient alternative to mall visits and long lines.
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ASTC | Hot Stocks08:11 EST Astrotech announces 1-for-30 reverse stock split - Astrotech announced that it has filed a third amendment to its Certificate of Incorporation to effect a reverse stock split of its common stock at a ratio of 1-for-30. The reverse stock split will become effective at 12:01 a.m. Eastern Time on December 5, 2022. Astrotech's common stock is expected to begin trading on a split-adjusted basis on The Nasdaq Capital Market when the market opens on December 5, 2022, under the existing trading symbol "ASTC." The reverse stock split is primarily intended to enable the Company to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market. The new CUSIP number for the Company's common stock following the reverse stock split will be 046484309.
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VTRU | Hot Stocks08:10 EST Vitru announces settlement of rights offering - Vitru announced the settlement of its previously announced rights offering. The Rights Offering resulted in the issuance of 926,206 common shares of Vitru and raised gross proceeds of approximately $14.8M. As a result of the Rights Offering and Crescera's investment pursuant to the Investment Agreement, Vitru issued a total of 4,562,569 common shares and raised aggregate gross proceeds of approximately $73.1M. Pursuant to the Rights Offering, Vitru distributed nontransferable subscription rights to each holder of its common shares as of 5:00 p.m., Eastern Time, on October 21, 2022. The subscription rights were exercisable at any time during the subscription period, which commenced on October 24, 2022, and ended at 5:00 p.m., Eastern Time, on November 17, 2022. The unexercised subscription rights have now expired and have no value.
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AIRS | Hot Stocks08:09 EST AirSculpt Technologies expands to Toronto, first international market - AirSculpt Technologies announced the opening of its first international Elite Body Sculpture location in Toronto, Canada. "We're thrilled to announce the opening of our first international center in Toronto," said Dr. Aaron Rollins, Founder and Chief Executive Officer at AirSculpt Technologies. "Our international expansion speaks to the demand for our proprietary AirSculpt procedure. We're excited to offer Canadians the dramatic transformation and premium experience that only AirSculpt can deliver."
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MTD | Hot Stocks08:08 EST Mettler-Toledo announces Filliol will not stand for re-election to board - Mettler-Toledo International announced that Olivier Filliol informed the Company that he will not stand for re-election to the Board of Directors in May 2023. Mr. Filliol joined the Board in 2009 and served as President and CEO from January 1, 2008 through March 31, 2021. Robert Spoerry, Chair of the Board, stated, "We want to sincerely thank Olivier for his many highly valuable contributions, and we are grateful for the unique expertise that he has brought to the Company. Olivier was instrumental in ensuring a successful CEO transition to Patrick Kaltenbach, which positions the Company well to continue its successful track record. We are especially thankful for Olivier's service and great dedication over the last twenty-five years."
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ELYS | Hot Stocks08:07 EST Elys Game Technology granted conditional license approval in Ohio - Elys Game Technology announced that on November 16th the Company was granted conditional approval for Type C sports gaming proprietor licensure from the Ohio Casino Control Commission for a period of 5 years effective January 1, 2023. The commencement of betting transactions in Ohio is subject to obtaining all further required certifications and licensing, and is conditioned upon the payment of license fees, ongoing proprietor suitability and continuous maintenance of compliance requirements of the OCCC for the duration of the license. The Company has commenced programming of its technology platform to comply with betting compliance specifications of the Ohio Lottery and has entered into an agreement to purchase 100 point of sale terminals and 100 self-service betting terminals for installation at host locations throughout Ohio. The Company is committed to processing any further requirements and certifications to commence operations as soon as practicable, and to providing the best possible product for sports bettors and for our host operators in Ohio.
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TMPO ACEV | Hot Stocks08:05 EST Tempo Automation completes business combination with ACE Convergence - Tempo Automation announced that it completed its business combination with ACE Convergence Acquisition Corp. (ACEV), a special purpose acquisition company traded on Nasdaq. ACE's shareholders approved the business combination at an extraordinary general meeting held on November 17, 2022. Following the merger, the combined company will operate under the name "Tempo Automation Holdings. Beginning on November 23, 2022, Tempo Automation's common stock and warrants will trade on Nasdaq under the ticker symbols "TMPO" and "TMPOW", respectively. Tempo Automation's experienced management team will continue to be led by CEO Joy Weiss and CFO Ryan Benton.
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TKLF | Hot Stocks08:05 EST Yoshitsu to launch new business in sauce, dressing, condiment market - Yoshitsu announced that it plans to launch new business in the sauce, dressing and condiment market. To demonstrate the Company's business expansion ambition and development strategy, the Company has determined to change the name of its operating entity from Tokyo Lifestyle to Kaika International. In addition to providing consumer home and health products, the Company plans to explore offering sauces, dressings and condiments in its stores in Japan by the end of 2022. Mei Kanayama, the Principal Executive Officer of Yoshitsu, commented, "We are committed to diversifying our product offerings to meet customers' needs and believe that the diversified product offerings will benefit our business growth. Through leveraging our existing store network, we expect to quickly realize the promotion and profitability of new products to be launched. We plan to sell such new products in our stores in Japan, and expand to our other distribution channels in the future. The name-changing of the operating entity is a logical step following the extension of our business. We are confident that the new business can help us capture the significant growth opportunity ahead and unlock value for all our stakeholders."
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AAWW BA | Hot Stocks08:04 EST Atlas Air takes delivery of new Boeing 747-8 Freighter - Atlas Air, a subsidiary of Atlas Air Worldwide (AAWW), announced it has taken delivery of a Boeing (BA) 747-8 Freighter. This aircraft is the third of four new Boeing 747-8 Freighters Atlas Air ordered in January 2021 and is the first of two 747-8Fs Atlas Air will operate for its customer Kuehne+Nagel under a long-term agreement. "This 747-8F delivery underscores the importance of our long-term strategic partnership with Kuehne+Nagel and our commitment to support their continued growth and expansion," said John Dietrich, President and Chief Executive Officer, Atlas Air Worldwide. "We are pleased to provide their first dedicated aircraft which will proudly fly in a custom Kuehne+Nagel livery. The two 747-8Fs we will operate for Kuehne+Nagel will add more capacity and versatility for their network."
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NAMS FLAC | Hot Stocks08:04 EST NewAmsterdam closes business combination with Frazier Lifesciences Acquisition - NewAmsterdam Pharma Company announced the closing of its business combination with Frazier Lifesciences Acquisition Corporation (FLAC). The ordinary shares and warrants of NewAmsterdam are expected to commence trading on the Nasdaq Capital Market under the ticker symbols "NAMS" and "NAMSW," respectively, on November 23, 2022. The shareholders of FLAC approved the transaction on November 15, 2022, following approval by NewAmsterdam shareholders. NewAmsterdam's existing management team, including CEO Michael Davidson, M.D., will lead the combined company. Proceeds from this transaction were approximately $328M, prior to deducting transaction expenses, comprising approximately $93M in funds from the former FLAC trust account and approximately $235M from the concurrent, oversubscribed PIPE financing, which was co-led by Frazier Healthcare Partners and Bain Capital Life Sciences. The Company's cash balance, after the transaction and excluding the transaction fees, is approximately $490M, which the Company believes will be sufficient to fund operations through 2026, beyond the readout of its three ongoing Phase 3 trials, BROADWAY, BROOKLYN and PREVAIL. BROADWAY is a Phase 3 trial designed to evaluate the effect of obicetrapib on top of maximally tolerated lipid-lowering therapy in patients with established atherosclerotic cardiovascular disease. BROOKLYN is a Phase 3 trial designed to evaluate the effect of obicetrapib on LDL-C levels in patients with heterozygous familial hypercholesterolemia as an adjunct to maximally tolerated lipid-lowering therapy. PREVAIL is a cardiovascular outcomes trial in patients with a history of atherosclerotic cardiovascular disease with inadequately controlled LDL-C despite treatment with maximally tolerated lipid-modifying therapies. The Company expects to announce data from both BROADWAY and BROOKLYN in 2024, and from the PREVAIL CVOT study in 2026. NewAmsterdam is also evaluating obicetrapib as a fixed-dose combination therapy with ezetimibe in a secondary Phase 2 trial, ROSE2, from which data are expected in 2023. On July 25, 2022, NewAmsterdam, a privately held biotechnology company, entered into a definitive business combination agreement with FLAC, a special purpose acquisition company sponsored by an affiliate of Frazier Healthcare Partners, that was created with the purpose of merging with a company that has the potential to both develop transformative therapies for patients in need and deliver significant returns to its investors. In the transaction, the Company received gross proceeds of approximately $328M, prior to deducting transaction expenses, consisting of approximately $93M from the former FLAC trust account and approximately $235M from PIPE investors. The upsized and oversubscribed PIPE was co-led by Frazier Healthcare Partners and Bain Capital Life Sciences, and included new investors RA Capital Management, GMT Capital, Medicxi, Panacea Venture and other institutional investors, in addition to existing NewAmsterdam shareholders Forbion, LSP Dementia Fund and Morningside Ventures.
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META | Hot Stocks08:00 EST German regulator says Meta to allow VR headset without a Facebook account - Germany's independent competition authority the Bundeskartellamt, "whose task is to protect competition in Germany," said in a statement on Wednesday: "Users who want to use the Quest 2 VR headset offered by Meta Quest, formerly Oculus, no longer need a Facebook account to do so. Meta has responded to the Bundeskartellamt's competition concerns and now also offers the possibility to set up the headset using a separate account, the Meta account. The sale of the headsets in Germany can thus go ahead. This also applies to the new Quest Pro headset. Andreas Mundt, President of the Bundeskartellamt: "The digital ecosystem created by Meta with a very large user base makes the company the key player in social media. Meta is also an important player in the growing VR market. Competition in these two sectors could be severely impeded if only Facebook or Instagram members were able to use the VR headsets. Meta has responded to our concerns and has offered to give users of Quest glasses the option to create a separate Meta account as a solution to the problem. While we welcome this development, we will not terminate the proceeding today. We will now continue to monitor the actual design of users' options as well as issues regarding the combination and processing of user data from the various Meta services. This case shows that Section 19a of the German Competition Act or GWB, the new instrument to monitor large digital companies more effectively, allows us to efficiently address competition problems in practice." Reference Link
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BERY | Hot Stocks07:38 EST Berry Global names board members, forms Capital Allocation Committee - Berry Global Group announced the appointments of three new independent members of the Company's Board of Directors and the formation of a Capital Allocation Committee. In connection with these enhancements, which align with Berry's ongoing focus on Board refreshment and maintaining strong governance, the Company also entered into a mutual cooperation agreement with shareholders Ancora Holdings Group, and Eminence Capital. As a result of Berry's existing focus on Board refreshment efforts, the Company will appoint Meredith Harper as an independent director following the 2023 Annual Meeting of Shareholders. Ms. Harper is currently Senior Vice President and Chief Information Security Officer of Synchrony Financial. She will succeed Paula Sneed, who has reached Berry's director retirement age and chosen to retire from the Board. As a result of collaboration with Ancora and Eminence, Berry has agreed to also appoint Chaney Sheffield and Peter Thomas as independent directors. Mr. Sheffield is a Partner at Canyon Partners, LLC and Mr. Thomas is the former Chairman, Chief Executive Officer and President of Ferro Corporation. Mr. Sheffield will join the Board immediately and Mr. Thomas will act as a non-voting observer until officially joining the Board following the 2023 Annual Meeting.
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BKBEF | Hot Stocks07:33 EST Pipestone Energy announces renewal of normal course issuer bid - Pipestone Energy announces the Toronto Stock Exchange has accepted the notice filed by the Company to renew its normal course issuer bid. Pipestone's inaugural NCIB was launched in November 2021 and has been fully executed with the purchase and cancellation of 9,598,347 common shares of the Company for an average price of $4.44 per share. The NCIB allows Pipestone to purchase up to 13,936,907 Common Shares, representing 5% of its 278,738,148 outstanding Common Shares as at November 14, 2022. The renewed NCIB is scheduled to commence on November 25, 2022 and is due to expire no later than November 24, 2023. Under the NCIB, Common Shares may be repurchased in open market transactions on the TSX and other alternative trading platforms in Canada and in accordance with the rules of the TSX governing NCIB's. The total number of Common Shares Pipestone is permitted to purchase is subject to a daily purchase limit of 156,214 Common Shares, representing 25% of the average trading volume of 624,856 Common Shares on the TSX calculated for the six-month period ended October 31, 2022 excluding 5,107,800 Common Shares that the Company repurchased pursuant to its previous NCIB during this period; however, Pipestone may make one block purchase per calendar week which exceeds the daily repurchase restrictions. Any Common Shares that are purchased under the NCIB will be cancelled upon their purchase by the Company. The Company intends to enter into an automatic securities purchase plan effective November 25, 2022, under which its broker may purchase Common Shares in connection with the NCIB. The plan will contain a prearranged set of criteria in accordance with which its broker may make Common Share purchases. These strict parameters enable the purchase of Common Shares during times when it would ordinarily not be permitted due to self-imposed blackout periods, insider trading rules or otherwise. Such plan is adopted in accordance with applicable Canadian securities laws. Outside of blackout periods, Common Shares may be purchased under the NCIB in accordance with management's discretion. As previously announced, Pipestone is committed to a multi-faceted approach to shareholder returns as part of its allocation of free cash flow strategy. In addition to the renewal of the NCIB, Pipestone has implemented a quarterly base dividend of $0.030 per Common Share, commencing in Q1 2023. The Company also has previously announced its intention to launch a Substantial Issuer Bid for up to $50 million in Q1 2023.
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SCHL | Hot Stocks07:32 EST Scholastic reports preliminary results of modified Dutch Auction tender offer - Scholastic announced preliminary results of its "modified Dutch auction" tender offer which expired at the end of the day on November 22. A total of 533,793 shares of the company's Common Stock, par value 1c per share were properly tendered and not properly withdrawn at or below a purchase price of $40.00 per Share, including 60,907 Shares that were tendered by notice of guaranteed delivery. The company expects to purchase all 533,793 Shares through the tender offer at a price of $40.00 per Share, for an aggregate cost of approximately $21.35M. The total of 533,793 Shares that the company expects to purchase represents approximately 1.6% of the total number of Shares outstanding, or 1.5% of the total number of Shares outstanding assuming the conversion of all shares of the Company's Class A Common Stock into Shares, as of November 21.
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XLO | Hot Stocks07:32 EST Xilio Therapeutics to host live virtual program spotlighting XTX301 - Xilio Therapeutics announced that the company will host a live virtual program on Thursday, December 1, 2022, at 12:30 p.m. ET spotlighting Xilio's clinical-stage molecule XTX301, a tumor-activated, engineered IL-12. The event will feature Diwakar Davar, MBBS, M.Sc., a key opinion leader and assistant professor of medicine and a medical oncologist/hematologist from UPMC Hillman Cancer Center. Dr. Davar will discuss the unmet medical need in treating patients with immunologically "cold" advanced solid tumors and the differences between "cold" and "hot" tumors in the tumor microenvironment, as well as the potential for IL-12 as a compelling immunotherapy target across tumor types due to its ability to activate both the innate and adaptive immune system. Xilio executives Rene Russo, Pharm.D., chief executive officer, Marty Huber, M.D., president and head of R&D, and Uli Bialucha, Ph.D., chief scientific officer, will discuss the company's clinical-stage molecule, XTX301, a unique tumor-activated, engineered IL-12 designed to potently stimulate anti-tumor immunity and reprogram the TME of poorly immunogenic "cold" tumors towards an inflamed state, while limiting systemic toxicity. The Xilio team will also cover the adaptive design for the planned Phase 1 trial for XTX301 and anticipated clinical development timeline.
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AZTA | Hot Stocks07:16 EST Azenta authorizes $500M accelerated share repurchase agreement - Azenta has entered into an accelerated share repurchase agreement with JP Morgan Chase Bank to repurchase $500M of the company's common stock. The ASR was entered into pursuant to the company's previously announced $1.5B share repurchase authorization. In addition to the ASR, the company intends to repurchase at least an additional $500M in common stock over the next year. The company will make an initial payment of $500M to the Dealer and will receive an initial delivery of approximately 6.1 million shares of the company's common stock on November 28. The final settlement of the ASR is expected to be completed by the end of the company's Q3 ended June 30, 2023.
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DE | Hot Stocks07:11 EST Deere sees FY23 net operating cash flow $9B-$9.5B - Sees FY23 effective tax rate 23%-25%. Sees FY23 cost of sales 71%. Sees FY23 capital expenditures $1.4B. Guidance taken from investor presentation slides.
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HBT | Hot Stocks07:07 EST HBT Financial announces executive officer transition plans - HBT Financial announced that Patrick Busch, Executive Vice President and Chief Lending Officer of the Company and President and Chief Lending Officer of Heartland Bank, will step down from these roles on December 31, 2022. Busch will remain with Heartland Bank, serving in the newly created position of Vice Chairman where he will continue to be involved in business development. Busch will also remain a member of both the Company and Heartland Bank boards of directors. J. Lance Carter, President and Chief Operating Officer of the Company and COO of Heartland Bank, will assume the additional title of President of Heartland Bank, effective January 1, 2023. Lawrence Horvath, currently Executive Vice President and Regional Senior Lending Manager of Heartland Bank, has been named Executive Vice President and Chief Lending Officer of the Company and Heartland Bank, effective January 1, 2023.
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NXTTF | Hot Stocks07:06 EST Lifeist's Mikra to launch RESCUE digestive aid - Lifeist Wellness announced that its wellness and nutraceutical subsidiary, Mikra plans to launch its second consumer product RESCUE in mid-December at www.wearemikra.com. RESCUE is a 100% naturally derived and rapid-acting digestive aid. Each high impact dose contains pure, fine-milled activated coconut charcoal powder made from super-heated coconut shells which acts to trap the body's toxins and chemicals within its pores. The toxins and chemicals stick to the porous surface of the active detox element through absorption and are then eliminated safely and rapidly through the body's natural digestive and metabolic processes. Manufactured in the United States, RESCUE is 100% vegan and free from soy, gluten, GMOs, dairy, egg and animal products. There are no fillers, additives or alternate carbon sources. Furthermore, the packaging furthers Mikra's sustainability goals. The glass jar and exterior box are fully recyclable, and the low-waste biofilm refill pouch and label are compostable. RESCUE is initially available at the basking building price point of $18 USD on www.wearemikra.com.
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LILM... | Hot Stocks07:05 EST Lilium closes $119M capital raise to fund development of new electric aircraft - Lilium (LILM) announced the successful closing of a $119M capital raise from existing shareholders, new investors, and strategic partners. Participants include Honeywell (HON) and Aciturri as well as LGT and its affiliated impact investor Lightrock, Tencent (TCEHY), B. Riley Securities and certain affiliates thereof. The closing of the capital raise occurred in part yesterday with closing for certain investors occurring shortly hereafter. Lilium's new CEO, Klaus Roewe, as well as three additional board members, Barry Engle, David Wallerstein and Niklas Zennstrom, also participated. "We are pleased to have such a high-quality group of supporters in a challenging macro environment. These proceeds are expected to strengthen our balance sheet and advance our commercialization efforts including signing of customer agreements with pre-delivery payments, reaching an agreement with EASA on our Means of Compliance, and commencing assembly of the type-conforming aircraft for the final manned flight test campaign," CEO Klaus Roewe said.
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MNDY | Hot Stocks07:04 EST Monday.com promotes Yoni Osherov to Chief Revenue Officer - monday.com announced the promotion of Yoni Osherov to Chief Revenue Officer, CRO, making him the first person to hold this title at the company. This significant move and establishment of the 'CRO organization' will ensure that from the moment a customer begins using monday.com and throughout their growth trajectory, their experience is seamless. Osherov will oversee all customer-interacting parts of the company, amounting to over half of the global team, including consulting / sales, customer experience, marketing, customer success, and partners. The need for this newly created
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DE | Hot Stocks06:38 EST Deere sees FY23 net income $8B-$8.5B - Net income attributable to Deere & Company for FY23 is forecast to be in a range of $8B to $8.5B. "Deere is looking forward to another strong year in 2023 based on positive farm fundamentals and fleet dynamics as well as an increased investment in infrastructure," May said. "These factors are expected to support healthy demand for our equipment. At the same time, we have confidence in the smart industrial operating model and our ability to deliver solutions that help our customers be more profitable, productive, and sustainable."
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NILE | Hot Stocks06:34 EST BitNile announces record date for stock dividend for Imperalis spinoff - BitNile has declared a pro rata dividend to the stockholders of BitNile of 140 million shares of common stock of Imperalis Holding - to be renamed TurnOnGreen -, which represents approximately 81% of the outstanding shares of TurnOnGreen common stock, and warrants to purchase an additional 140 million shares of TurnOnGreen common stock. BitNile stockholders of record as of the close of business on December 30 will receive the Distribution Securities, which will be payable on January 5, 2023. No fractional shares of TurnOnGreen common stock are being issued. Holders of BitNile common stock who would otherwise be entitled to receive fractional shares of TurnOnGreen common stock will be receiving cash for their fractional interests. Subsequent to the Distribution, BitNile will continue to beneficially own approximately 370,000 shares of TurnOnGreen common stock and 25,000 shares of series A convertible redeemable preferred stock and BitNile would remain TurnOnGreen's largest stockholder.
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TMQ | Hot Stocks06:32 EST Trilogy Metals provides update on Ambler Access Project - Trilogy Metals is providing an update on the Ambler Access Project, or AAP, the proposed 211-mile, industrial-use-only road from the Upper Kobuk Mineral Projects, or UKMP, to the Dalton Highway that will enable advancing exploration and development at the Ambler Mining District, home to some of the world's richest known copper-dominant polymetallic deposits. On November 15, the United States Bureau of Land Management submitted a status report in accordance with the Voluntary Remand dated May 17. The comment period ended on November 4 for the scoping process of the Supplemental Environmental Impact Statement, or SEIS. The purpose of the SEIS is to further evaluate subsistence impacts to fish and caribou habitat and address the desire for additional tribal consultation. The USBLM is now evaluating the scoping comments and determining whether additional impacts, if any, should be more thoroughly assessed. A compilation of the substantive comments received will be assembled into a summary public scoping report and available on the USBLM website for public review. The USBLM currently anticipates publishing a draft SEIS during the second quarter of calendar year 2023, which will be open for public comment upon publication. The USBLM also anticipates publishing a final SEIS, conducting final pre-decision consultation with Alaska Native Tribes and Corporations, and issuing a Record of Decision, all within the fourth quarter of calendar year 2023.
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AMBO | Hot Stocks06:29 EST Ambow to sell equity interests in the Ambow subsidiaries for $12M in cash - Ambow Education announced that on November 23, the company and its wholly owned subsidiaries, namely Ambow Education, Ambow Education Management and Ambow Education Group entered into a share purchase agreement with Clover Wealth. Pursuant to the purchase agreement, the company and the Ambow subsidiaries have agreed to sell all of the equity interests in the Ambow Subsidiaries to the purchaser in consideration of the purchaser paying $12M in cash to the company. The sale is subject to customary conditions precedent. For more details of the sale, please refer to Exhibit 99.2 for the complete text of the purchase agreement. Upon completion of the sale, the company would have, through its subsidiaries, sold substantially all of its assets in China. The sale is conditioned upon receiving approval from company's shareholders. The company will convene a shareholders' meeting to consider and approve the Sale as described above. The closing of the Sale is not certain. There is no assurance that all conditions precedent to the closing of the sale will be satisfied or waived. The purchase agreement may be terminated upon mutual agreement among the parties thereto.
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SECO | Hot Stocks06:02 EST Secoo Holding implementing ADS ratio change - Secoo Holding will change the ratio of its American depositary shares - ADSs - to its Class A ordinary shares , par value $0.001 per share, from the current ratio of two ADSs to one Class A ordinary share to a new ratio of one ADS to five Class A ordinary shares. For the company's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. The Company anticipates that the change in the ADS Ratio will be effective on or about November 28. Each ADS holder of record at the close of business on the date when the change in ADS Ratio is effective will be required to surrender and exchange every 10 existing ADSs held then for one new ADS. The company's ADSs will continue to be traded on the Nasdaq Capital Market under the symbol "SECO." No fractional new ADSs will be issued in connection with the change in the ADS RatioThe change in the ADS Ratio will have no impact on the company's underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled in connection with the change in the ADS Ratio.
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XERS HZNP | Hot Stocks06:02 EST Xeris Biopharma announces research collaboration with Horizon Therapeutics - Xeris Biopharma Holdings (XERS) announced that it has entered into a research collaboration and option agreement with Horizon Therapeutics (HZNP). Under the terms of the agreement, Xeris will use its proprietary formulation technology platform, XeriJect, to develop an ultra-concentrated, ready-to-use, subcutaneous injection of teprotumumab and Horizon will have an option to license the Xeris technology. Teprotumumab is the first and only medicine approved by the U.S. FDA for the treatment of Thyroid Eye Disease, a serious, progressive and potentially vision-threatening rare autoimmune disease. Teprotumumab-trbw is known as TEPEZZA in the United States. Xeris will receive an upfront payment, and may be entitled to receive development milestones, regulatory milestones, and sales-based milestones, as well as royalties based on future sales if the commercial license option is exercised. Specific financial terms of the agreement were not disclosed.
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DWAC | Hot Stocks05:57 EST Digital World Acquisition says investors vote to extend merger deadline - In a regulatory filing, Digital World Acquisition Corp. said investors voted to extend the deadline to merge with Truth Social to September 2023, pending an investigation by regulators.
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CS | Hot Stocks05:51 EST Credit Suisse sees likely loss for Wealth Management in Q4
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CS | Hot Stocks05:51 EST Credit Suisse sees 'substantial' loss of up to CHF 1.5B in Q4 - Strategic actions taken to significantly reduce the Group's risk profile are expected to be reflected in near-term financial results. Consistent with its announced divestment strategy, the bank disposed of its shareholding in Allfunds Group plc, and expects to record a CHF ~75 million loss related to the sale. Lower deposits and assets under management are expected to lead to reduced net interest income and recurring commissions and fees; this is likely to lead to a loss for Wealth Management in the fourth quarter of 2022. Together with the adverse revenue impact from the previously disclosed exit from the non-core businesses and exposures, and as previously announced on October 27, 2022, Credit Suisse would expect the Investment Bank and the Group to report a substantial loss before taxes in the fourth quarter 2022, of up to CHF ~1.5 billion for the Group.
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CS | Hot Stocks05:50 EST Credit Suisse confirms capital ratio guidance from October 27
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CS | Hot Stocks05:50 EST Credit Suisse targeting 2025 pre-Basel III reform CET1 ratio of over 13.5%
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CS | Hot Stocks05:49 EST Credit Suisse provides updated outlook for Q4 - Credit Suisse Group has commenced rapid implementation of actions to create the new Credit Suisse, consistent with the strategic plans detailed on October 27, 2022. These decisive measures are expected to result in a radical restructuring of the Investment Bank, an accelerated cost transformation, and strengthened and reallocated capital, each of which are progressing at pace. The bank is informing the market on its updated outlook for the fourth quarter of 2022 and as part of its equity raise process. As previously disclosed, Credit Suisse began experiencing deposit and net asset outflows in the first two weeks of October 2022 at levels that substantially exceeded the rates incurred in the third quarter of 2022. At the Group level, as of November 11, 2022, net asset outflows were approximately 6% of assets under management at the end of the third quarter of 2022. In Wealth Management, these outflows have reduced substantially from the elevated levels of the first two weeks of October 2022 although have not yet reversed and were approximately 10% of assets under management at the end of the third quarter of 2022. In the Swiss Bank, these client balances have stabilized and were approximately 1% of assets under management at the end of the third quarter of 2022. The Group's average daily LCR for the fourth quarter to-date as of November 18, 2022 was 140%, with spot rates broadly stabilizing between ~120% to ~130% since the October 27, 2022 results announcement. The bank is also making strides in reducing the Group's cost base by 15%, or CHF ~2.5 billion, in 2025, including through a targeted reduction of CHF ~1.2 billion for 2023. Actions to reduce headcount by 5% have been initiated, with reductions to other non-compensation related costs currently underway. The Group confirms the capital ratio guidance communicated on October 27, 2022. The Group is targeting a 2025 pre-Basel III reform CET1 ratio of more than 13.5%, while expecting to maintain a pre-Basel III reform CET1 ratio of at least 13% throughout the transformation period in 2023 through 2025.
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FLNG | Hot Stocks05:13 EST Flex LNG extends time charter agreements with CMI for three ships - Flex LNG announced an extension of the time charter agreements with Cheniere Marketing International, or CMI, for the three LNG carriers Flex Endeavour, Flex Ranger and Flex Vigilant. Prior to this agreement, the three ships have about six years in aggregate of remaining firm charter period, and the new agreement extends the charter periods for up to an additional 19 years in aggregate. Under the agreement, CMI early declares the original 1+1-year optional periods for all the three vessels. Additionally, Flex LNG and CMI have agreed to an extension of the existing time charter agreements for Flex Endeavour and Flex Vigilant. The new period is for up to 1,800 days for both Flex Endeavour and Flex Vigilant. The minimum firm extension period for Flex Endeavour is 1,300 days from Q1-2027 to Q3-2030. In addition, CMI has a 500-days extension option to be declarable in Q2-2024 for the period Q3-2030 to Q1-2032. In the event this 500-days option is declared, CMI will also have the option to extend Flex Endeavour for a further one-year period from Q1-2032 to Q1-2033. The minimum firm extension period for Flex Vigilant is 1,600 days from Q2-2026 to Q4-2030. In addition, CMI has a 200-days extension option to be declarable in Q3-2023 for the period Q3-2030 to Q2-2031. In the event this 200-days option is declared, CMI will also have the option to further extend Flex Vigilant for a two-year period from Q2-2031 to Q2-2033. The Flex Ranger will thus be redelivered to Flex LNG in the period between March or April 2027 after completing her original 5.5-year Time Charter with CMI.
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ABBV | Hot Stocks05:10 EST AbbVie announces EC approval for Skyrizi - AbbVie announced the European Commission, or EC, approved Skyrizi as the first specific interleukin-23 inhibitor for the treatment of adults with moderately to severely active Crohn's disease who have had inadequate response, lost response or were intolerant to conventional or biologic therapy.
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SPCB | Hot Stocks05:08 EST SuperCom announces 1-for-10 reverse stock split - SuperCom announced that its board of directors and stockholders has approved a 1-for-10 reverse stock split of its ordinary shares. SuperCom's ordinary shares will begin trading on a split-adjusted basis at commencement of trading on November 23. The ordinary shares will continue to trade on the Nasdaq Capital Market under the symbol (SPCB).
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